Question

April 01 - Opening stock 50 units @Rs.44 per unit
April 02 - Purchases 100 units @ Rs.47 per units
April 07 - Issued 50 units
The value of inventory at the end of the week under FIFO method is _____________.

• A. Rs.4,700
• B. Rs.4,550
• C. Rs.4600
• D. None of these

Answer 1

The correct option is A Rs.4,700

Date	Particular	Qty	Rate	Amt
April 1	Opening Stock	50	44	2200
April 2	Purchase	100	47	4700
	Balance	150		6900
April 7	Issued	50	44	(2200)
April 7	Balance	100	47	4700

So, the value of inventory at the end of the week is Rs 4700.